In a thread on X (formerly Twitter), Raoul Pal, a renowned trading guru and the founder/CEO of Global Macro Investor and Real Vision, has illuminated the crypto community about the advent of what he terms as the “Macro/Crypto Summer.” This period, according to Pal, is not just a fleeting season but a significant phase in the financial and cryptocurrency markets, deeply rooted in the cyclical nature of the global economy.
Why The Macro/Crypto Summer Matters
Pal elaborates on the concept of the “Macro Summer,” explaining it as a pivotal phase in “The Everything Code” cycle, closely following the Financial Conditions Index, which historically precedes the cycle by approximately ten months. The ISM (Institute for Supply Management) index, a key indicator of economic health, often bottoms out during this period, marking the start of GDP growth.
Pal’s thesis draws attention to the “near-perfect 3 1/2 year cyclicality” in the ISM business cycle, propelled by liq
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